AUS
NZ
UK
CA
USA
IND
Highlights
- The Kiwi nation would soon see a mandate on Sustainable Biofuels, which would help in reducing its toxic greenhouse gas emissions to help meet its climate commitments.
- The New Zealand Refining Company signs an MOU for a feasibility study to probe prospects of green hydrogen.
- Meridian Energy releases its November 2021 operating report.
The NZ government is planning to introduce the Sustainable Biofuels Mandate to lower GHG (greenhouse gas) emissions across the country’s transport sector.
From April 2023 onwards, fuel dealers would be required to sell a fixed portion of these low-emissions biofuels in their total fuel supply to lessen GHG emissions arising from transport fuels.
It is noted that biofuels are renewable, low-emissions fuel sources that help reduce toxic emissions, and a mandate on them would help prevent nearly one million tonnes of emissions from trucks, cars, trains, etc., in next three years and around 10 million tonnes by 2035.
Having said that, let us explore the five popular NZX energy stocks.
Source: © 2021 Kalkine Media® data source- EODHD/Others
The New Zealand Refining Company Limited (NZX:NZR)
The New Zealand Refining Company Limited is NZ’s famous fuel infrastructure company. Lately, the Company has signed an MOU with Fortescue Future Industries (FFI) to undertake a feasibility study to explore possibilities related to the production, storage, and distribution of green hydrogen from Marsden Point.
Do Read: The NZ refining (NZX:NZR): Is it planning for equity raising?
The work on the said study would cover both commercial and technical feasibility and will commence early next year.
At the end of the trading session, on 17 December, The New Zealand Refining Company was flat at NZ$0.92.
Meridian Energy Limited (NZX:MEL; ASX:MEZ)
Meridian Energy Limited is known for generating electricity from 100% renewable sources. Recently, it has released its operating report for November 2021.
Interesting Read: Is Meridian Energy(NZX:MEL) on a growth path post FY21?Y
Its total monthly inflows clocked 91% of the historical average. Also, its retail sales volumes for the said month grew 11.5% on pcp.
Further, when talking about segment sales, its small-medium business sales and agricultural sales grew by 21% and 14.9%, respectively, while its corporate and residential sales climbed by 10.2% and 9.4%, respectively, when compared to November 2020.
At the end of the trading session, on 17 December, Meridian Energy gained 3.86% at NZ$4.845.
Genesis Energy Limited (NZX:GNE; ASX:GNE)
Another diversified energy company selling electricity, LPG and natural gas across the country is Genesis Energy Limited. A few days ago, it announced the resignation of its Chief Digital Officer and Chief Operations Officer in 2022.
The Company is actively looking for suitable candidates for the said posts.
At the end of the trading session, on 17 December, Genesis Energy dipped by 1.40% at NZ$2.810.
Must Read: Genesis (NZX:GNE): What steps has it taken towards solar development?
Z Energy Limited (NZX:ZEL; ASX:ZEL)
Z Energy Limited is a famous fuel supply company which sells fuel to both retail as well as commercial customers. Of late, the Company released its Modern Slavery Statement, which outlines its strategies related to identifying and mitigating the risks associated with modern-day slavery in its operations and supply chain management.
ZEL is committed to preserving human rights to protect interests of its workers and prevent any exploitation across its business operations.
Moreover, the Company boasts having open communication channels, wherein any such incidents can be reported and managed.
At the end of the trading session, on 17 December, Z Energy climbed by 0.29% at NZ$3.490.
Contact Energy Limited (NZX:CEN; ASX:CEN)
Another well-known energy producer is Contact Energy Limited, which supplies electricity, LPG, and natural gas to its customers.
Related Read: Contact (NZX:CEN) What is its indicative pricing for green Capital Bond offer?
Recently, the Company had disclosed that it would publish its half-year results on 14 February for the period ended 31 December.
At the end of the trading session, on 17 December, Contact Energy was up by 0.39% at NZ$7.730.
Bottom Line
The NZ government, along with the country's energy companies, are leaving no stone unturned to reduce harmful emissions across the nation, thereby meeting their climate change commitments.
